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BoB Cuts Lending Rates by 25 bps After RBI Policy Move; Keeps MCLR Unchanged

The bank has reduced external benchmark-linked lending rates (EBLR) for the retail and MSME segments, effective immediately.
Indian Masterminds Stories

Mumbai: State-run Bank of Baroda (BoB) has swiftly passed on the Reserve Bank of India’s recent 25 basis points (bps) rate cut to its customers. The bank has reduced external benchmark-linked lending rates (EBLR) for the retail and MSME segments, effective immediately.

The move follows the RBI’s second consecutive rate cut, aimed at cushioning growth amid global uncertainties, including retaliatory tariff risks from the US.

Despite the EBLR cut, BoB has kept its Marginal Cost of Funds-Based Lending Rate (MCLR) unchanged, with the benchmark one-year MCLR remaining steady at 9% — the rate that influences most personal and auto loans.

BoB’s quick transmission aligns with RBI’s push for more effective and timely reflection of policy rate changes in consumer borrowing costs.


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